[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-280678-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-280678-en":127},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","letter-of-credit-instructions-and-template","Letter of Credit - Instructions and Template","","Instructions and a fill-in template for issuing an irrevocable Letter of Credit. The document specifies issuer eligibility, governing law, and purpose as financial assurance for Anne Arundel County, Maryland. It outlines the automatic one-year extension mechanism, notice timing requirements, and conditions allowing the Controller to draw on the credit, including applicant default, failure to provide replacement assurance, and time limits for establishing alternate financial assurance. It also sets draft honoring and partial drawing rules.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/letters/","Letters",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/letter-of-credit-instructions-and-template/280678/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/letter-of-credit-instructions-and-template/280678.png","ImageObject",442,249,{"name":42,"@type":43},"Paura","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-23","2026-09-16",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",13,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"Who is allowed to issue a Letter of Credit under these instructions?","Question",{"text":63,"@type":64},"The issuing institution must be a bank or financial institution authorized to issue Letters of Credit, with operations regulated and examined by a federal or state agency.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How does the automatic extension of the Letter of Credit work?",{"text":68,"@type":64},"The Letter of Credit is automatically extended for successive one-year periods unless, at least 120 days before expiration, the issuing institution notifies the Controller by certified mail of a decision not to extend.",{"name":70,"@type":61,"acceptedAnswer":71},"When can the Controller draw on the Letter of Credit?",{"text":72,"@type":64},"The Controller may draw if the Applicant fails to establish approved alternate financial assurance within 90 days after receiving a cancellation notice, if the Applicant defaults under the related agreement, or if an acceptable replacement Letter of Credit or other acceptable financial assurance is not provided within the required period.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},280678,1790446533,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,114,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social Media",50,"social-media",{"id":110,"doc_module":22,"doc_module_name":25,"category_name":111,"show_sort_weight":112,"slug":113},17,"Forms",40,"forms",{"id":115,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":116,"slug":117},18,30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":115,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":30,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":22},13056712833777,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","INSTRUCTIONS FOR LETTERS OF CREDIT  \nA Letter of Credit must be executed on the letterhead of the financial institution and it must be worded as provided in the attached form Letter of Credit. The issuing institution must be a bank or financial institution that has the authority to issue Letters of Credit and whose Letter of Credit operations are regulated and examined by a federal or state agency.  \nThe Letter of Credit is irrevocable. A Letter of Credit issued in connection with a Stormwater Warranty Agreement must be issued for a period of at least two years. The term of other Letters of Credit is governed by the applicable agreement or by governing law.  \nThe Letter of Credit provides for an automatic extension for periods of one year unless, not less than 120 days before the current expiration date (first expiration date or successive expiration date) the issuing institution notifies the Controller of Anne Arundel County by certified mail of a decision not to extend the expiration date. The 120 days begins to run after the Controller has received the notice as evidenced by the return receipt.  \nIf the Applicant does not establish alternate financial assurance and obtain written approval of that alternate assurance from the Controller within 90 days after the Controller received the cancellation notice, the Controller will draw on the Letter of Credit. Drawing on the Letter of Credit may be delayed if the issuing institution grants an extension of the terms of the credit. The Controller also may draw on the Letter of Credit for a default by the Applicant under the agreement to which the Letter of Credit relates.  \n[Date]  \nANNE ARUNDEL COUNTY, MARYLAND c/o Controller, Office of Finance  \nArundel Center  \nAnnapolis, Maryland 21401  \nRe: Irrevocable Letter of Credit No.    \n  , Applicant  \nAmount:    \nExpiration Date:    \nBeneficiary: Anne Arundel County, Maryland  \nAnne Arundel County, Maryland:  \nWe hereby issue our irrevocable Letter of Credit \\#   in your favor on behalf of [applicant name], referred to in this Letter of Credit as the Applicant, for a sum of $( and _/100 Dollars), available by your draftsat sight drawn on our institution, [name of institution], marked \"Drawn under [name of institution] Letter of Credit \\#  dated [effective date] .\"  \nWe are a bank or financial institution that has the authority to issue Letters of Credit. Our Letter of Credit operations are regulated and examined by [name of federal or state agency] .  \nThis Letter of Credit is issued to provide financial assurance to Anne Arundel County, Maryland for [Stormwater Warranty Agreement No.     ;; other named and described agreement] .  \nThis Letter of Credit shall expire on [date at least two years beyond effective date if issued in connection with a S t o r m w a t e r W a r r a n t y Agreement; otherwise appropriate time frame], but the expiration date shall be automatically extended without notification for successive periods of one year, unless, not less than 120 days before the expiration date, you receive a notification from us by certified mail of our decision not to extend the current expiration date.  \nYou may draw on this Letter of Credit upon a written certification by the Controller of Anne Arundel County, Maryland stating that the Applicant has failed to properly execute its responsibilities under the [Stormwater Warranty Agreement or other named and described agreement] . You also may draw on this Letter of Credit upon a written certification by the Controller of Anne Arundel County, Maryland stating that the Applicant failed to provide you with an acceptable replacement Letter of Credit, or another type of financial assurance acceptable to you, within 90 days after receipt by you  \nof a notice from us that we have decided not to extend this Letter of Credit beyond its current expiration date. Partial drawings are permitted.  \nWe shall honor drafts drawn under and in compliance with the terms of this Letter of Credit and these ","cbCairYefwgKmVdZ","https://ap.wps.com/l/cbCairYefwgKmVdZ","pdf",163378,"English","# Instructions for Letters of Credit\n## Irrevocability, term, and issuer requirements\n## Automatic extension and notice timing\n## Draw conditions and payment mechanics\n## Governing law and required certifications","[{\"question\":\"Who is allowed to issue a Letter of Credit under these instructions?\",\"answer\":\"The issuing institution must be a bank or financial institution authorized to issue Letters of Credit, with operations regulated and examined by a federal or state agency.\"},{\"question\":\"How does the automatic extension of the Letter of Credit work?\",\"answer\":\"The Letter of Credit is automatically extended for successive one-year periods unless, at least 120 days before expiration, the issuing institution notifies the Controller by certified mail of a decision not to extend.\"},{\"question\":\"When can the Controller draw on the Letter of Credit?\",\"answer\":\"The Controller may draw if the Applicant fails to establish approved alternate financial assurance within 90 days after receiving a cancellation notice, if the Applicant defaults under the related agreement, or if an acceptable replacement Letter of Credit or other acceptable financial assurance is not provided within the required period.\"}]","Letter of Credit - Instructions and Template | PDF",1789554130]